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PayPal has a list of Local RP bank codes

The word is officially out, PayPal now allows Philippine-based users to withdraw funds directly into their local bank accounts. Woot! Big big props to PayPal!

I just received an email from them officially announcing the roll-out of such a service. You can now use PayPal to transfer money to Philippine banks. It’s free for transfers above PhP7000.00, with a transaction fee of PhP50.00 (~$1.23) for transfers Php6,999.00 and below. It’s definitely good news since it shaves off some time from the processing of withdrawals from PayPal, plus it makes the whole thing more convenient. I’m sure more Pinoys will sign-up for PayPal in the coming months.

Now, the bad news: UnionBank, with whom I opened an account for the express purpose of receiving PayPal funds through a UnionBank EON card, thinks their bank code is some sort of fucking top secret shit. I just got into a fight with one of their customer service agents over it. He questioned the need for a bank code on PayPal; I dared him to log on to his PayPal account and see for himself.

I do not appreciate being called a liar, especially by people who cannot see the obvious. Unless UnionBank gives me the information I need right now, they will lose some of my business. Interesting how they’ve turned from one of the smartest banks in the Philippines to one of the stupidest, all within the course of one Sunday. That’s what happens when your market is faster and smarter than you.

Strange really, because back when before I haven’t verified my PayPal account with my UnionBank EON card, their support agents have always been helpful whenever I called them up. All Mike Abundo wanted was the darn bank code, was it a top secret piece of information?

Luckily for me, I followed the link contained in PayPal’s legit email (there are tons of spam and fake emails from PayPal so be careful) and it brought me to their Bank Withdrawal FAQ Page. Read about the process of Adding a Bank account and to the left, buried in the middle of the explanatory note was a link to PayPal’s list of local RP banks’ codes. And right near the bottom of the list, is UnionBank’s bank code! So that spared me from making a phone call to UnionBank and possibly suffering the same fate as Mike Abundo did.

ALLIED BANKING CORP – 010320013

AUSTRALIA NEW ZEALAND – 010700015

ASIA UNITED BANK – 011020011

BANGKO SENTRAL NG PILIPINAS – 010030015

BANGKOK BANK – 010670019

BANK OF AMERICA – 010120019

BANK OF CHINA – 011140014

BANK OF TOKYO – 010460012

BANCO DE ORO (& EPCIB) – 010530667

BANK OF COMMERCE – 010440016

BANK OF THE PHIL ISLANDS – 010040018

CHINA BANKING CORP – 010100013

CHINA TRUST COMML BANK – 010690015

CITIBANK N.A. – 010070017

DEVT BANK OF THE PHILS – 010590018

DEUTSCHE BANK – 010650013

EAST WEST BANK – 010620014

EXPORT & INDUSTRY BANK – 010860010

FUJI BANK – 010640010

HONGKONG AND SHANGHAI BANK – 010060014

INTL COMML BANK OF CHINA – 010560019

INTL EXCHANGE BANK – 010680012

JP MORGAN CHASE BANK – 010720011

KOREA EXCHANGE BANK – 010710018

INTL NEDERLAND BANK – 010660016

LAND BANK OF THE PHILS – 010350025

MAYBANK OF THE PHILS – 010220016

METROPOLITAN BANK & TRUST CO – 010269996

PHIL BANK OF COMMUNICATION – 010110016

PHIL TRUST COMPANY – 010090039

PHIL NATIONAL BANK – 010080010

PRUDENTIAL BANK – 010150018

PHIL VETERANS BANK – 010330016

RIZAL COMML BANKING CORP – 010280014

SECURITY BANK & TRUST CO – 010140015

STANDARD CHARTERED BANK – 010050011

UNITED COCONUT PLANTERS BANK – 010299995

UNION BANK OF THE PHILS – 010419995

UNITED OVERSEAS BANK – 010270189

These are the codes for the major banks in the Philippines and Indonesia. If your bank is not on the list, just give them a call and ask for the code. I do hope that they treat you well as they should.

Though the great Mike Abundo may have already had his vengence as he points out that with this new service from PayPal, sign-ups for UnionBank’s EON Card would slow down as the need for the card is lessened, you could use other credit cards to verify your PayPal and then add your bank account for direct withdrawals.

Plus, waiting time for your money to arrive has been lessened because now you just have to wait for 5-7 working days before the funds do arrive in your bank account unlike before which is 5-7 days of processing from PayPal to your EON Card then another 5 days or so from your EON Card to your bank account. Does this mean ‘goodbye EON Card’?

I'm currently having the same problem as Mike, customer service e-mail from unionbank usually responds in a day. However, since I asked for that stupid bank code, they are suddenly silent about confirming, denying or whatever. My patience running thin, I tried googling, luckily I found your post, thanks jhay!